Motco lifted its holdings in Bank of New York Mellon Corp (NYSE:BK) by 79.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 753 shares of the bank’s stock after purchasing an additional 334 shares during the quarter. Motco’s holdings in Bank of New York Mellon were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of the company. Cullinan Associates Inc. grew its stake in shares of Bank of New York Mellon by 12.5% during the 4th quarter. Cullinan Associates Inc. now owns 117,330 shares of the bank’s stock valued at $5,905,000 after purchasing an additional 13,054 shares during the period. Archford Capital Strategies LLC lifted its stake in shares of Bank of New York Mellon by 4.9% in the 3rd quarter. Archford Capital Strategies LLC now owns 6,164 shares of the bank’s stock worth $279,000 after purchasing an additional 287 shares during the period. Country Club Trust Company n.a. boosted its holdings in shares of Bank of New York Mellon by 4.2% in the third quarter. Country Club Trust Company n.a. now owns 103,299 shares of the bank’s stock worth $4,599,000 after buying an additional 4,201 shares during the last quarter. Bourgeon Capital Management LLC purchased a new position in shares of Bank of New York Mellon in the third quarter worth approximately $45,000. Finally, Parallel Advisors LLC grew its position in Bank of New York Mellon by 47.8% during the third quarter. Parallel Advisors LLC now owns 5,353 shares of the bank’s stock valued at $242,000 after buying an additional 1,730 shares during the period. Hedge funds and other institutional investors own 82.02% of the company’s stock.
NYSE BK opened at $45.90 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.74. Bank of New York Mellon Corp has a 12 month low of $40.52 and a 12 month high of $54.27. The stock has a market cap of $42.45 billion, a price-to-earnings ratio of 11.42, a PEG ratio of 1.45 and a beta of 1.11. The company’s 50 day moving average is $48.00 and its two-hundred day moving average is $46.69.
Bank of New York Mellon (NYSE:BK) last posted its quarterly earnings results on Thursday, January 16th. The bank reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.99 by $0.02. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $4.17 billion. Bank of New York Mellon had a net margin of 21.39% and a return on equity of 10.49%. The company’s revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.99 earnings per share. Sell-side analysts forecast that Bank of New York Mellon Corp will post 4.14 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, February 7th. Stockholders of record on Monday, January 27th were given a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, January 24th. This represents a $1.24 annualized dividend and a dividend yield of 2.70%. Bank of New York Mellon’s payout ratio is 30.85%.
A number of analysts have commented on the stock. Royal Bank of Canada reaffirmed a “hold” rating and set a $52.00 target price on shares of Bank of New York Mellon in a report on Monday, January 20th. Buckingham Research dropped their price target on shares of Bank of New York Mellon from $56.00 to $53.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Wolfe Research raised shares of Bank of New York Mellon from a “peer perform” rating to an “outperform” rating in a research report on Monday, January 6th. Evercore ISI restated a “sell” rating and issued a $49.00 price objective on shares of Bank of New York Mellon in a research note on Monday, January 20th. Finally, Standpoint Research initiated coverage on Bank of New York Mellon in a report on Monday, December 23rd. They issued an “accumulate” rating on the stock. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $51.50.
About Bank of New York Mellon
The Bank of New York Mellon Corporation provides a range of financial products and services to institutions, corporations, and high net worth individuals in the United States and internationally. The company operates through two segments, Investment Management and Investment Services. It offers investment management, custody, foreign exchange, fund broker-dealer, collateral and liquidity, clearing, corporate trust, global payment, trade finance, and cash management services, as well as securities finance and depositary receipts.
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